Atishay Limited , a technology solutions provider, has clinched a significant contract worth ₹197.40 lakhs from Bhilwara Central Cooperative Bank Ltd. The work order entails the supply, installation, commissioning, and maintenance of Micro ATMs for Primary Agricultural Credit Societies (PACS) in Bhilwara, Rajasthan.

Contract Details

Impact and Implications

This contract marks a significant step for Atishay Limited in strengthening its presence within the agricultural and rural banking ecosystem. The implementation of Micro ATMs in PACS aligns with the broader goal of promoting digital financial inclusion in India's cooperative banking network.

Micro ATMs are portable devices that can be used for various banking transactions, including cash withdrawals, deposits, and balance inquiries. Their deployment in rural areas can significantly enhance access to banking services for farmers and rural populations who may not have easy access to traditional bank branches.

Company Statement

Atishay Limited has confirmed that neither its promoters nor any group companies have any interest in Bhilwara Central Cooperative Bank Ltd. The company has also clarified that the contract does not involve any related party transactions, ensuring transparency in the deal.

Market Implications

While the immediate financial impact of this contract on Atishay Limited's overall revenue may be modest, it represents a strategic move into the rural banking technology sector. The successful execution of this project could potentially open doors for similar contracts with other cooperative banks and rural financial institutions across India.

As the country continues to push for greater financial inclusion and digitization of banking services in rural areas, companies like Atishay Limited that can provide tailored technological solutions stand to benefit from this growing market segment.

Investors and market watchers will likely keep an eye on Atishay Limited's performance in executing this contract, as it could be indicative of the company's capabilities in handling similar projects in the future.

Atishay Limited , a prominent player in the E-Governance and Retail services sector, has reported a robust financial performance for the second quarter. The company's unaudited standalone financial results, approved by its Board of Directors on October 16, reveal significant growth in both revenue and profitability.

Financial Highlights

Atishay Limited demonstrated strong financial performance in the second quarter:

• Revenue Surge: The company's revenue from operations jumped to ₹1,795.27 lakhs, marking a substantial 38% increase from ₹1,301.08 lakhs in the same quarter of the previous year.
• Profit Growth: Net profit for the quarter rose to ₹183.16 lakhs, up 26.1% from ₹145.24 lakhs in the previous year's corresponding quarter.
• Improved Earnings: Basic earnings per share (EPS) increased to ₹1.67, compared to ₹1.32 in the corresponding quarter last year.

Segment Performance

The E-Governance segment continues to be the primary revenue driver for Atishay Limited:

• E-Governance: This segment generated revenue of ₹1,575.32 lakhs in the current quarter, contributing significantly to the company's overall growth.
• Retail & Other Services: While smaller in scale, this segment also showed positive results, complementing the company's core E-Governance business.

Half-Yearly Performance

For the first half of the current financial year, Atishay Limited reported:

• Revenue: ₹3,015.56 lakhs, up from ₹2,308.49 lakhs in the previous year's corresponding period
• Net Profit: ₹348.06 lakhs, compared to ₹252.88 lakhs in the previous year
• EPS: ₹3.17 for the six-month period, showing consistent growth

Management Commentary

Akhilesh Jain, Chairman and Managing Director of Atishay Limited, stated, "Our strong performance in Q2 and H1 reflects the growing demand for our E-Governance solutions and the efficiency of our operations. We remain committed to delivering value to our stakeholders and contributing to India's digital transformation journey."

Auditor's Review

M/s B M Parekh & Co., Chartered Accountants, conducted a limited review of the financial results and issued a clean report, affirming the accuracy of the financial statements.

Investors and stakeholders can access detailed financial results on the BSE Limited website and the company's official website.